December 27, 2020 (MLN): The weekly economic roundup summarizes the country's key economic and financial data for the week from various sectors to keep an eye on next week's trends. 

• Pakistan’s fiscal deficit during July-October FY2021 stood at 1.7% of GDP (Rs 753 billion) against 1.4% of GDP (Rs 564 billion) in the comparable period of last year.
• Pakistan's Forex Reserves decreased by USD 66.50 Million or 0.33% and the total liquid foreign reserves held by the country stood at USD 20,313.10 Million on Dec 18, 2020.
• The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.11% during the week ended Dec 24, 2020, while the SPI increased by 7.66% compared to the corresponding period from last year.
• Pakistan has posted a Current Account Surplus of USD 447 Million in November 2020 against a deficit of $326 million in Nov’19, taking the overall surplus for the year to 1.6 billion compared to a deficit of USD 1.7 billion from the corresponding period of last year.
• Pakistan’s trade deficit in services witnessed a significant reduction in the month of November 2020 as it declined by 65% MoM to stand at $99 million against the deficit of $280 million recorded in October 2020.
• The Banking sector spread for November 2020 decreased by 17 basis points (bps) over the month which brings its latest value to 4.48% as compared to the prior month's spread of 4.65%. Similarly, the spread has shrunk by 153 bps as compared to the same period last year.
• Pakistan’s exports during the month of November 2020 showed a growth of 5% YoY and 14% MoM to $2.227 billion.
• The gross sale of securities by foreign investors during the week ended December 18, 2020, stood at Rs.12.8 billion, which is around 96.2 percent higher than the figures recorded last week.
• The Economic Coordination Committee (ECC) of the Cabinet has approved duty and tax-free import of cryogenic oxygen tanks for better handling of the COVID-19 situation.
• Cabinet Committee on Privatization (CCoP) approved the Transaction Structure for Pakistan Steel Mills Corporation.
• Germany will provide technical assistance worth €10 million to Pakistan for two different projects to improve social and industrial sector efficiency in the country.
• USA remained as the top export destination for Pakistan with $1.855 billion worth of shipments in July-Nov FY21, against the exports of $1.744 billion in the same period of last year, showing an increase of 6% YoY.
• Funds remitted through Roshan Digital Accounts are accelerating and crossed USD200 million.
• National Power Regulatory Authority (NEPRA) on Wednesday informed that the Public hearing on the CCPA petition for a fuel price adjustment (FCA) for November 2020 will be conducted on December 30, 2020.
• The oil and gas Exploration & Production (E&P) companies have planned to inject around 150 Million Cubic Feet per Day (MMCFD) additional gas in the transmission network in the coming days from their different fields to meet the increased demand for the commodity during the current winter.
• Pakistan's IT exports during July-Nov FY21 have shown a growth of 39% YoY to stand at USD 763 million as compared to USD 549 million in the corresponding period last year.
• The export of Transport services during the month of November 2020 amounted to $29.9 million, whereas the imports totaled $265 million.
• Pakistan needs more or less US $6 billion annual investment for water supply and sanitation in the country, the Asian Development Bank (ADB) reported.
• The total nutrient offtake during the month of November 2020 was about 542 thousand tonnes, showing an increase of 13.9 percent as against November 2019.
• The total offtake of DAP during the month of November 2020 was 367 thousand tonnes, showing a decrease of 9.3 percent over the offtake witnessed in November 2019.
• The overall urea offtake during the month of November 2020 was 533 thousand tonnes, showing an increase of 40 percent as compared to the same period of last year. The main reason for an increase in urea offtake was the decrease in its prices in the local market.
• The non-government sector has borrowed a net sum of Rs.24.08 billion during the week ended December 11, 2020, which brings the cumulative net retirement for the ongoing fiscal year FY2021 to Rs.7.03 billion. The net retirement as of the prior week was recorded at Rs.31.1 billion.
• The government of Pakistan has acquired an additional debt of Rs.18.2 billion during the week ended December 11, 2020, which brings its total net borrowing for the ongoing fiscal year 2021 to Rs.177.58 billion. As of the prior week, the government had borrowed a net sum of Rs.159.38 billion.
• Pakistan's outstanding debts as of November 30, 2020 stand at Rs.22.988 trillion whereas total debt at the end of the prior month was Rs.22.996 trillion, meaning that around Rs.7.94 billion were retired during this month alone.
• The Federal Government has released Rs. 320.2 billion for various ongoing and new social sector uplift projects to date under its Public Sector Development Programme (PSDP) 2020-21.
• The exports of Chemical and Pharmaceutical Products witnessed an increase of 19.66% MoM and 68.7% YoY to value at USD 129 million during the month of November 2020.
• The Central Directorate of National Savings (CDNS) has achieved a collective net target of Rs 33 billion by December 17 of the fiscal year 2020-21.

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